In a report released today, Devin McDermott from Morgan Stanley maintained a Buy rating on EQT (EQT), with a price target of $24.00. The company’s shares closed last Thursday at $18.41.
According to TipRanks.com, McDermott is a 3-star analyst with an average return of 2.6% and a 50.8% success rate. McDermott covers the Utilities sector, focusing on stocks such as Hess Midstream Partners, Continental Resources, and Occidental Petroleum.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for EQT with a $23.00 average price target, implying a 16.2% upside from current levels. In a report released today, Tudor Pickering also upgraded the stock to Buy with a $24.00 price target.
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Based on EQT’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $841 million and net profit of $63.69 million. In comparison, last year the company earned revenue of $851 million and had a GAAP net loss of $1.18 billion.
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EQT Corp. engages in natural gas production, gathering, and transmission in the Appalachian area. The EQT Production segment focuses on the exploration, development and production of natural gas, natural gas liquids and crude oil. The company was founded in 1888 and is headquartered in Pittsburgh, PA.
